Which of the Following Statements Is Correct

question 26

Multiple Choice

Which of the following statements is correct?

• A) If the functional currency of the foreign operation is different than the parent's functional currency, the non-monetary items recorded at closing values must be translated using closing rates.
• B) If the functional currency of the foreign operation is different than the parent's functional currency, the non-monetary items recorded at closing values must be translated using average rates.
• C) If the functional currency of the foreign operation is different than the parent's functional currency, the non-monetary items recorded at closing values must be translated using historical rates.
• D) If the functional currency of the foreign operation is the same as the parent's functional currency, the non-monetary items recorded at closing values must be translated using average rates.

---

Definitions:

Shape Effect

Shape effect is a visual or graphic enhancement applied to geometric elements in digital graphics and design software to alter their appearance, including shadows, glows, and bevels.

Alt Text

Short for "Alternative Text", descriptions for images or other media on web pages, important for accessibility and SEO.

Tab Stop

A feature in word processing software that allows the user to set specific locations on a line of text for aligning text, facilitating organized layouts in documents.

Alignment Indicator

A marker or cue in software that shows the relative positioning or formatting alignment of elements within a document or user interface.